Posted January 27, 2017
We recognize some weeks are more challenging than others. This week would demonstrate how this was true for the currency markets. With a chance to try and improve against several European currencies, how would the US dollar perform?
We always look for a good start to the week and we had one this time around. The US dollar began trading on 0.8211 against the British pound, before rising to finish the day on 0.8288. The dollar also had a good start against the euro, beginning on 0.9379 and rising to 0.9439 to end. Heading elsewhere in Europe now, let’s see if we can do well against the Swiss franc, too. The dollar began on 1.0062 before rising slightly to close the day on an encouraging 1.0108.
Yesterday’s good start was marred by a fall in the exchange rate today as far as the head-to-head with the British pound was concerned. The dollar dropped to 0.8123 but remained just above the rate it had started on. The same pattern continued where the euro was concerned, as the dollar dropped back to 0.9359 today. There was more of the same against the Swiss franc as well, taking the dollar to 1.0026 today.
Better news today for the dollar, as it edged up to 0.8142 against the pound. Where would things progress to from here, and would they go in the dollar’s favor? The pattern kept on repeating as well, as the dollar rose against the euro to finish the day on 0.9377. There was a marginal rise for the dollar versus the Swiss franc also, which meant it finished on 1.0039 today.
We wondered how things were going to go yesterday, and today we got our answer. The week continued with a fall for the US dollar versus the British pound, taking it back to 0.8113 in the process. There was a slight drop against the euro as well, taking the dollar down to 0.9373 – a fall of just 0.037% compared to yesterday. We didn’t see the same pattern against the Swiss franc though, as the dollar managed to push ahead to 1.0057 here.
It’s always good to end on a better note, and the dollar managed that today against the British pound. It rose to 0.8144, although this was lower than Monday’s opener had been. One final piece of good news came against the euro as well, as the US dollar rose to 0.9405. In this case, it was a better result than we’d hoped for, and was higher than Monday’s opening rate too. Things ended with the dollar in good shape against the Swiss franc as well, especially since we improved against it yesterday too. This meant the week-ending rate here was 1.0089 – a little higher than we had opened the week on. This was a strong performance overall, and an encouraging one too.